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U.S. Bank and Korean Air Add SKYPASS Visa(R) Signature Card with Enhanced Benefits for Cardmembers

LOS ANGELES--(BUSINESS WIRE)--Sept. 19, 2006--U.S. Bank and Korean Air are giving SKYPASS Visa(R) cardmembers a new reason to value their cards, with the introduction of the SKYPASS Visa Signature card. Many Korean Americans already appreciate the benefits of using their SKYPASS Visa card. Now, the Signature card allows cardmembers to take advantage of new privileges offered to Signature members.

Cardmembers receive the same benefits that were provided to Platinum cardmembers, plus additional prestigious benefits all at the same annual fee. SKYPASS Visa Signature cardmembers receive double miles on Korean Air ticket purchases, annual renewal bonus miles, two Korean Air VIP lounge coupons and a $100 discount coupon on a Korean Air online ticket purchase each year. Signature benefits include a no pre-set spending limit, so cardmembers do not have the inconvenience of using their card within a specified credit limit. They also have the option to carry a balance.

With SKYPASS Visa Signature card, cardmembers enjoy exclusive benefits they have never experienced with any other card. Visa Signature benefits include:

  • Visa Signature Concierge, which provides expert staff to help cardmembers with travel and entertainment needs wherever they are and whenever they need it;

  • Visa Signature Privileges, giving cardmembers special discounts and offers from many of the world's finest hotels and resorts, spas, premier retail merchants and travel providers;

  • Visa Signature Access, which lets cardmembers gain entry to exclusive, unique experiences and once-in-a-lifetime events, including sports and concerts;

  • Visa Signature Dining, enabling cardmembers to secure a table at some of the most exclusive restaurants in the country; and

  • Travel accident insurance of $1,000,000 in coverage.

The Signature card is a perfect complement to the SKYPASS Visa product set. U.S. Bank currently offers six SKYPASS Visa cards including: SkyBlue with no annual fee, Signature, Classic, and Secured for personal use or Business and the Company card for business needs.

The SKYPASS Visa allows customers to earn miles for the dollars they charge with no cap on the miles earned and their miles never expire. The accumulated SKYPASS miles are combined with their Korean Air flight miles and can be redeemed for free travel rewards on Korean Air and SkyTeam partners or for free upgrades on Korean Air flights. For more information on SKYPASS Visa visit www.skypassvisa.com.

The SKYPASS Visa partner Korean Air has a fleet of 118 aircraft and is one of the world's top 20 airlines, operating almost 400 flights per day to 92 cities in 32 countries. Last summer, they launched their tenth United States gateway in Seattle. In September this year, Korean Air is adding Las Vegas as its thirteenth North American (U.S. and Canada) gateway -- more than any other Asian airline. Korean Air is a founding member of SkyTeam, the global alliance partnering AeroMexico, Air France, Alitalia, CSA Czech Airlines, Delta, Northwest, Continental and KLM. Korean Air has won the coveted "Phoenix Award" from Air Transport World (ATW) for successfully overcoming challenges faced by major growing airlines in the global airline industry. Korean Air flies the world's largest commercial airline cargo operation. For more information on Korean Air visit www.koreanair.com.

U.S. Bancorp (NYSE:USB), with assets of $213 billion, is the 6th largest financial holding company in the United States. The company operates 2,434 banking offices and 4,966 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com.

Teri Charest, 612-303-0732


"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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